Replies to This Discussion

Permalink Reply by Celeste ODea on May 17, 2013 at 5:23pm

Add the name and address.  Otherwise, they won't accept them and you're just wasting time.  Same with bank statements.  Can't use the e-statements because they don't have the bank name, sellers name or address, or the period it covers.  Just double check all your docs.  Files move much quicker through the process when complete.  

Permalink Reply by Scott Davidson on May 18, 2013 at 11:07am

So when you say add, I am guessing you mean just type them on in some blank space on the statement since there is no field for it.

Permalink Reply by joe beauchamp on May 17, 2013 at 5:55pm

It is always faster to comply then fight bank lunacy. I had to fight because the seller was 1 of 6 employees so there was no employee number on the pay stub. Absurd - what does that have to do with reality? It took quite a while and escalations to get them accepted. Seriously, if the dept of defense decides not to put on an employees address, who the hell does some pinhead WF employee think he is to demand it? I assume it is an extra security measure - and I would club WF over the head with not accepting a dept of def. pay stub and demanding that the gov't change the pay stub for them. With things outside the norm of whatever silly rules the "specialist" has in front of him (as in probably verify the address on the pay stub), I find it better to jump a level - go to the investor and complain, or HUD if this is FHA. They should know that servicers make up stupid rules and will ask them to move on. The low levels at the bank simply do as told for fear that they get in trouble if the investor rejects the paperwork because the "specialist" failed to comply (to servicer made up rules).

If you talk to someone in the escalations staff, that could be enough - they may have enough authority to see when there is a stupid rule in the way - not sure.